Product category: Communications ICs (Wired)
News Release from: National Semiconductor
Edited by the Electronicstalk Editorial Team on 06 August 2003
Successful streamlining enables stock
buy-back
The National Semiconductor board of directors has authorised a programme to repurchase up to $400 million of stock.
The National Semiconductor board of directors has authorised a programme to repurchase up to $400 million of stock The timing of the buy-back and the exact number of shares purchased will depend on market conditions
As of 25th May 2003, National's fiscal year-end, the company had 184 million shares of common stock outstanding.
"We've streamlined our expenses and focused on our core analogue capabilities, which improves National's profitability and reduces our capital spending going forward", said Brian L Halla, National's Chairman, President and CEO.
"In light of the progress we've made on these initiatives, this stock repurchase programme is a natural next step for us to take".
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